By Sami Zaptia.
London, 10 June 2020:
The Libya Business Council (LBC), Libya’s only government recognized private sector business council with branches in the west, east and south, discussed the challenges faced by the private sector under the current circumstances during a meeting in Tripoli last week.
The meeting reviewed the financial, security and legal challenges faced by the private sector because of the closure of the country’s oil production, the effects of the Corona pandemic and the armed conflicts.
The meeting also discussed the LBC’s future visions of the role of the private sector and the foundations of partnership with the government sector.
Proposed economic reform plan
The attendees agreed to establish several technical committees that will open channels of direct communication with public, private, research and economic experts to prepare a proposal for a reform plan aimed at developing the private sector.
The reform plan will also aim to overcome the difficulties facing the private sector by promoting a culture of participation in the solution and finding practical solutions for the private sector to overcome this difficult period and focus on the knowledge-based economy and create mechanisms to revive economic life.
LBC branch to open in Sebha
In the same context, the LBC said it continued to put the final touches on the announcement of the establishment of its branch in the southern region during the coming period, which will provide its services to the entire southern regions and seek to contribute to the achievement of spatial development and provide the appropriate environment for the revival of economic life.
The LBC also discussed the proposal to aid the south of Libya to support efforts to combat the spread of the Coronavirus and agreed to coordinate it with the government’s Coronavirus Advisory Committee.